SLOVENIA: S&P revises outlook on SID Bank to positive, affirms A/A-1 ratings

Standard & Poor's  said it has revised its outlook on Slovenia-based SID Bank (Slovene Export and Development Bank) to positive from stable, while affirming the bank's 'A/A-1' long- and short-term issuer credit ratings.

The outlook revision follows S&P's outlook revision on Slovenia, on December 16, to positive based on robust economic growth. S&P also affirmed Slovenia's A/A-1 long- and short-term sovereign credit ratings.

"We equalize our ratings on SID Bank with those on Slovenia because we consider that there is an almost certain likelihood of extraordinary government support for SID Bank in the event of financial distress", S&P said in a statement late on Tuesday. Read the full story

Related articles

"Solvency II Lessons Learned" - discussed in September, in Ljubljana

The introduction of Solvency II, starting January 2016, represents the biggest shift in the insurance regulation in several decades. the challenges arising from this shift ranging from financial, organisational, legal, operational, to systemic risks. The "Solvency II Lessons Learned" conference, organized by the Slovenian Insurance Supervision Agency, aims to exchange views on the first lessons learned in this respect.


SAVA Re simplifies its group structure by a quadruple merger

Slovenian insurance group SAVA Re has already taken steps to simplify its organisational structure by merging its two domestic subsidiaries -  Zavarovalnica Maribor and Zavarovalnica Tilia - and the two Croatian units - Velebit osiguranje and Velebit zivotno osiguranje - into one company.


STATISTICS: Who were the FY2015 SLOVENIAN top insurers?

The Slovenian insurance market totaled EUR 1.97 billion at the end of December 2015, 2% more y-o-y, statistics of the country's Insurance Association indicated. In terms o claims paid by local insurers, the aggregate value increased by 1.9% to EUR 1.35 billion.




VIDEO: GIF 2017, LONDON: HRH The Prince of Wales welcome address

"Insurers have to play an important part not only in managing current risks, but also in modelling the future by contributing to a better understanding of risks, to closing the insurance gap and setting an example of responsible investment policy," HRH The Prince of Wales said in his welcome address at GIF 2017.


See all